FOMC meeting today i.e. 16th Sept., 2008

The Federal Open Market Committee is expected to raise Fed funds rate a quarter-percent to 2.5% in the two-day meeting starting today. Most analysts anticipate sixth straight increase in a row as the US monetary policy makers have been following their “accommodative” ‘measured” policy of rate increases since June 2004.
The FOMC will add new members to its voting panel this time including Michael Moskow of Chicago, Gary Stern of Minneapolis and Anthony Santomero of P The U.S. economy is expected to show expansion at a 4.4% annual rate in 2004, and an addition of 2.2 million jobs, in line with the government’s estimate of fourth-quarter growth issued Jan. 28.